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Atricle Dump - The What, Why And How Of Performance Management
Over the past 19 years, I have worked with thousands of business owners in Africa, Canada and the United States. I foresee serious financial adversity looming for many entrepreneurs in the coming years, and perhaps a lot sooner than we may think. And before you conclude that this is mere speculation, let me share some reasons for my concern, and then allow me to offer you a solution.On a macro level, we all know that the dollar’s purchasing power has declined. T
- Record all formal discussions. For example, if you speak to someone about their poor performance and agree some actions, it’s good practice to have a written record of what was discussed and agreed
- Be authentic - stick to the facts, be honest, be straight
The key thing is to be consistent and fair in this process. It demonstrates that you are not shy about praising people when they do well, yet are still honest and constructive when managing underperformance. It also provides you with a process to identify and then remove obstacles that may be getting in the way of your team excelling and enjoying their work.
Performance management plays a
Business traveling, even with all of its hustle, bustle, and flat hotel pillows, does have one perk: your company pays for it. Whether they reimburse you for cars from rental agencies or for the miles you put on your own vehicle, one thing stands between you and your financial compensation: tangible proof of what you’ve spent.Keeping financial records of business trips may seem – on the surface – quite simple. However, when more pressing matters get in the way –
Undertaken consistently, effective performance management will help you retain the right people, improve their performance and the overall performance of your business.
Conversely – the failure to performance manage your team can result in losing your best people, keeping the wrong type of people and the consequent stagnation of your business.
But what does this all mean within the context of a small business?
WHAT IS IT?
- Ensuring each of your team is clear of what is expected of them in terms of both outcomes and behaviour
- Giving constructive feedback on an ongoing basis – positive and negative – so people know how they are doing on a day to day basis
- Conducting a formal appraisal annually to review their progress
- Conducting some kind of performance review every six months
- Challenging and stretching your staff to improve their performance and reach their potential
- Helping under performers to improve and get ‘back on track’
WHY DO IT?
- It gives your people clarity as to how they are doing and what they need to do to deliver the business plan
- From a legal standpoint, it is a key part of practising good relations with your staff and minimising any legal risk to yourself
- It helps you improve the performance and morale of your team
- It helps you grow your business by stretching and developing your people
- It helps you retain your top performers as they a) are being developed and b) see you are willing to tackle under performing members of the team
- It helps you manage out the people who are not right for the business in an appropriate manner
- It’s also the right and fair thing to do for your people
HOW DO I DO IT?
- Ensure everyone has a clear brief about the expectations of their role and the measures of success
- Diarise formal annual appraisals and 6 monthly performance reviews
- Conduct a review at the end of three months for all new starters
- On a day-to-day basis, catch people doing things well and praise them for it. You will see them walk away with a spring in their step and be pleased to be working for you
- Speak to people informally about lateness, absence and deteriorating work standards or attitudes as soon as it starts to become a problem (i.e. “nip it in the bud” as we say in the UK)
- Be consistent by then following these up more formally if things do not change
- Work with under performers to agree a plan and support them in changing
- Equally, set out the consequences of not changing and follow these through
- Record all formal discussions. For example, if you speak to someone about their poor performance and agree some actions, it’s good practice to have a written record of what was discussed and agreed
- Be authentic - stick to the facts, be honest, be straight
The key thing is to be consistent and fair in this process. It demonstrates that you are not shy about praising people when they do well, yet are still honest and constructive when managing underperformance. It also provides you with a process to identify and then remove obstacles that may be getting in the way of your team excelling and enjoying their work.
Performance management plays a
Some of these challenges have been around since business began and others are new ones that are being faced as technology and the marketplace evolves. As a business owner, you need to be sure that you are handling each of these effectively and looking out for where they might destroy your business.1. Cashflow ManagementThis is the number one essential for all businesses, no matter what stage they are at. Even the most successful businesses can fa
- Giving constructive feedback on an ongoing basis – positive and negative – so people know how they are doing on a day to day basis
- Conducting a formal appraisal annually to review their progress
- Conducting some kind of performance review every six months
- Challenging and stretching your staff to improve their performance and reach their potential
- Helping under performers to improve and get ‘back on track’
WHY DO IT?
- It gives your people clarity as to how they are doing and what they need to do to deliver the business plan
- From a legal standpoint, it is a key part of practising good relations with your staff and minimising any legal risk to yourself
- It helps you improve the performance and morale of your team
- It helps you grow your business by stretching and developing your people
- It helps you retain your top performers as they a) are being developed and b) see you are willing to tackle under performing members of the team
- It helps you manage out the people who are not right for the business in an appropriate manner
- It’s also the right and fair thing to do for your people
HOW DO I DO IT?
- Ensure everyone has a clear brief about the expectations of their role and the measures of success
- Diarise formal annual appraisals and 6 monthly performance reviews
- Conduct a review at the end of three months for all new starters
- On a day-to-day basis, catch people doing things well and praise them for it. You will see them walk away with a spring in their step and be pleased to be working for you
- Speak to people informally about lateness, absence and deteriorating work standards or attitudes as soon as it starts to become a problem (i.e. “nip it in the bud” as we say in the UK)
- Be consistent by then following these up more formally if things do not change
- Work with under performers to agree a plan and support them in changing
- Equally, set out the consequences of not changing and follow these through
- Record all formal discussions. For example, if you speak to someone about their poor performance and agree some actions, it’s good practice to have a written record of what was discussed and agreed
- Be authentic - stick to the facts, be honest, be straight
The key thing is to be consistent and fair in this process. It demonstrates that you are not shy about praising people when they do well, yet are still honest and constructive when managing underperformance. It also provides you with a process to identify and then remove obstacles that may be getting in the way of your team excelling and enjoying their work.
Performance management plays a
I recently attended a Microsoft event at their corporate headquarters in Redmond, Washington. This event was a fantastic opportunity to meet with fellow leaders in the Microsoft partner community from around the world and spend quality time with each one of them. The event was held over four days and we had a very tight schedule and the importance of timeliness was critical to its overall success.The timeliness factor really didn’t hit me until I was ready to
- It helps you improve the performance and morale of your team
- It helps you grow your business by stretching and developing your people
- It helps you retain your top performers as they a) are being developed and b) see you are willing to tackle under performing members of the team
- It helps you manage out the people who are not right for the business in an appropriate manner
- It’s also the right and fair thing to do for your people
HOW DO I DO IT?
- Ensure everyone has a clear brief about the expectations of their role and the measures of success
- Diarise formal annual appraisals and 6 monthly performance reviews
- Conduct a review at the end of three months for all new starters
- On a day-to-day basis, catch people doing things well and praise them for it. You will see them walk away with a spring in their step and be pleased to be working for you
- Speak to people informally about lateness, absence and deteriorating work standards or attitudes as soon as it starts to become a problem (i.e. “nip it in the bud” as we say in the UK)
- Be consistent by then following these up more formally if things do not change
- Work with under performers to agree a plan and support them in changing
- Equally, set out the consequences of not changing and follow these through
- Record all formal discussions. For example, if you speak to someone about their poor performance and agree some actions, it’s good practice to have a written record of what was discussed and agreed
- Be authentic - stick to the facts, be honest, be straight
The key thing is to be consistent and fair in this process. It demonstrates that you are not shy about praising people when they do well, yet are still honest and constructive when managing underperformance. It also provides you with a process to identify and then remove obstacles that may be getting in the way of your team excelling and enjoying their work.
Performance management plays a
I used to believe changing careers in midlife was akin to flyinig solo across the Atlantic. I could only imagine Charles Lindbergh's relief and overwhelming sense of accomplishment upon his safe landing. But who knew the biggest risk I would take would lead to a six figure income at age 64?After spending 25 years as an entrepreneur with my husband in retail, I was offered a job in the very industry I had abandoned to become self-employed. Since our retail bus
- Conduct a review at the end of three months for all new starters
- On a day-to-day basis, catch people doing things well and praise them for it. You will see them walk away with a spring in their step and be pleased to be working for you
- Speak to people informally about lateness, absence and deteriorating work standards or attitudes as soon as it starts to become a problem (i.e. “nip it in the bud” as we say in the UK)
- Be consistent by then following these up more formally if things do not change
- Work with under performers to agree a plan and support them in changing
- Equally, set out the consequences of not changing and follow these through
- Record all formal discussions. For example, if you speak to someone about their poor performance and agree some actions, it’s good practice to have a written record of what was discussed and agreed
- Be authentic - stick to the facts, be honest, be straight
The key thing is to be consistent and fair in this process. It demonstrates that you are not shy about praising people when they do well, yet are still honest and constructive when managing underperformance. It also provides you with a process to identify and then remove obstacles that may be getting in the way of your team excelling and enjoying their work.
Performance management plays a
With in the past few months more and more people have tempted their fate with hopes to win big at gambling. It seems as though everyone has jumped on the band wagon to capitalize on those that seek fame and fortune through gambling. Everywhere you go from your local department stores, radio advertisement, television commercials and highway billboards you have now been exposed. This effective advertisement has enticed people to take a chance to win big.For the n
- Record all formal discussions. For example, if you speak to someone about their poor performance and agree some actions, it’s good practice to have a written record of what was discussed and agreed
- Be authentic - stick to the facts, be honest, be straight
The key thing is to be consistent and fair in this process. It demonstrates that you are not shy about praising people when they do well, yet are still honest and constructive when managing underperformance. It also provides you with a process to identify and then remove obstacles that may be getting in the way of your team excelling and enjoying their work.
Performance management plays a crucial part in building trust and credibility with your team. In the same way that building trust and credibility is the foundation of retaining customers and clients – so it is with retaining staff.
© 2006 Authentic Resourcing All Rights Reserved.
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